In June of 2019 Mundelein, IL embarked on the largest single project in the village’s history. Bernardi Securities, Inc. managed the bond financing for the project. The funds raised will help consolidate Mundelein’s Public Works and Engineering facilities into one centralized location. Construction will incorporate an existing 26,000-square-foot commercial facility to save on costs and provide:

  • Nearly 3 acres of covered storage
  • 26,000 square foot office space for 43 employees
  • 76,000 square foot garage space storing 85 pieces of equipment
  • On-site salt building for storing 3,000 tons of salt
  • On-site fueling station for all Village vehicles
  • New vehicle maintenance shop with 6 bays and 3 lifts
  • Construction of a one-million-gallon detention pond to hold stormwater[1]

Additionally, the existing obsolete facilities will free up land for redevelopment and tax revenue-enhancing projects. Officials have stated that they will not have to raise property taxes or the fees to cover the new project since bonds that financed the construction of a police and fire station twenty years ago are scheduled to be fully repaid this year, while bonds for a waste water treatment plant project were repaid last year.[2]

Bernardi is happy to support the local community and assist in value-add projects for Mundelein residents.

To access the preliminary official statement, please visit link below.

https://emma.msrb.org/ES1298468-ES1016097-ES1417421.pdf

 

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[1] Source: Daily Herald, Mundelein Hosts Groundbreaking Ceremony to Commence Construction on New Public Works and Engineering Complex, June 20th, 2019

[2] Source: Chicago Tribune, Mundelein to reduce, postpone projects to move forward with $23 million public works building, August 26, 2019

 

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